Cody Wilson is a man who looks forward to bitcoin rising in price because it means his business is likely to do very well. However, Wilson isn\'t a cryptocurrency trader; he is the founder of a company called Defense Distributed, an organisation which specialises in the production of firearms using 3D printing technology.
\r\nFounded in 2012 in Wilson\'s garage, the company now has a turnover of $2.7 million per year, and around 10% of this is in the form of bitcoins. When bitcoin increases in price, Wilson finds that the orders from people who have invested in bitcoin start to roll in. He believes that as bitcoin increases in value, it makes his products look more appealing because if you can buy a gun machine for less than one bitcoin, it is going to seem like a pretty good deal.
\r\nHis customers also prefer to pay in bitcoin because of the anonymity it offers them. While what Wilson sells is not illegal, Defense Distributed has attracted a lot of attention from the Department of Justice and Alcohol, Tobacco and Firearms agents. For this reason, a lot of his customers would rather that there was no identifying information left behind once the sale is complete, such as a credit card number or name. It is safe to assume that Wilson has done very during December 2017, when bitcoin hit an all-time high of $20,000.
Embarking on the journey of cryptocurrency investment can seem daunting, but starting small with something like 0.01 BTC is a manageable and insightful first step into the expansive Bitcoin universe.
MoreIn an unprecedented move that marries the automotive industry with the burgeoning world of cryptocurrency, Honda has announced that it now accepts Bitcoin for vehicle purchases.
MoreThe anticipation surrounding the Bitcoin halving event extends far beyond the mining community and individual holders.
MoreJian Wen, a 42-year-old former takeaway employee, has been found guilty at Southwark Crown Court for her involvement in a sophisticated money laundering operation using Bitcoin to acquire luxury properties and high-value items.
More